The warrant of arrest requested against Kim Wan-joong, the CEO of South Korean shipping company Polaris Shipping, in connection to the sinking of Stellar Daisy two years ago, was rejected on Thursday, January 24, the company confirmed to World Maritime News.

Warrants of arrests were being sought also for the head of maritime affairs at Polaris Shipping, an inspector of Korean Register of Shipping in charge of Stellar Daisy as well as 2 persons from a private company responsible for inspecting the vessel following the conversion of the ship. Namely, Stellar Daisy was converted from an oil tanker to a bulk carrier.

As WMN understands, Mr. Wan-joong was under suspicion of loading cargo without approval from the regulator on board VLOC Stellar Daisy.

However, Busan District Court rejected the arrest warrant application in light of the fact that the cause of the accident has not been proven yet, Polaris Shipping said a statement.

The warrant request against the inspector of Korean Register of Shipping and two others from another company responsible for inspecting the vessel were rejected as well; yet one of Polaris Shipping’s former employees was detained.

The South Korean bulker was carrying 24 crew members, eight South Korean and sixteen Filipino sailors, when it sank in the South Atlantic. Only two sailors were rescued following the incident, whereas 22 crew members are missing, and feared dead.

The case is still being investigated by the South Korean Coast Guard and the exact cause of the ship’s sinking is yet to be determined.